In a press release issued on 23rd June 2014 in London, FITCH Ratings has affirmed Bank Sohar’s ratings. The Long Term Issuer Default Rating was affirmed at BBB+ with a Stable Outlook. A full list of their rating affirmations can be obtained from their press release.
The FITCH press release highlighted Bank Sohar’s conservative risk appetite and sound asset quality. The release also said that Bank Sohar’s liquidity was sound with a stable deposit base. FITCH made a note of the Bank’s solid growth in earnings and profitability driven by increases in both net interest and fee income.